Lincoln National Corp Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

Lincoln National Corp grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Get Rating) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,492 shares of the medical research company’s stock after buying an additional 410 shares during the quarter. Lincoln National Corp’s holdings in Amgen were worth $1,914,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Culbertson A N & Co Inc lifted its stake in Amgen by 19.8% during the third quarter. Culbertson A N & Co Inc now owns 1,450 shares of the medical research company’s stock worth $326,000 after purchasing an additional 240 shares during the last quarter. Asset Dedication LLC lifted its stake in Amgen by 11.8% during the second quarter. Asset Dedication LLC now owns 11,931 shares of the medical research company’s stock worth $2,875,000 after purchasing an additional 1,259 shares during the last quarter. Mather Group LLC. lifted its stake in Amgen by 2.3% during the second quarter. Mather Group LLC. now owns 4,097 shares of the medical research company’s stock worth $997,000 after purchasing an additional 91 shares during the last quarter. Schmidt P J Investment Management Inc. bought a new position in Amgen during the second quarter worth $235,000. Finally, NewSquare Capital LLC lifted its stake in Amgen by 7.3% during the third quarter. NewSquare Capital LLC now owns 18,425 shares of the medical research company’s stock worth $4,153,000 after purchasing an additional 1,249 shares during the last quarter. 75.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays raised their price objective on Amgen from $234.00 to $240.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 18th. Truist Financial raised their target price on Amgen from $266.00 to $280.00 and gave the company a “hold” rating in a research note on Tuesday, November 8th. Morgan Stanley raised their target price on Amgen from $279.00 to $282.00 and gave the company an “overweight” rating in a research note on Friday, November 4th. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 17th. Finally, Oppenheimer raised their target price on Amgen from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Tuesday, December 6th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $253.57.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 545 shares of Amgen stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $293.54, for a total transaction of $159,979.30. Following the transaction, the senior vice president now directly owns 13,009 shares of the company’s stock, valued at $3,818,661.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Amgen Price Performance

NASDAQ:AMGN opened at $260.97 on Tuesday. The business’s 50-day moving average price is $273.69 and its 200 day moving average price is $256.96. The firm has a market cap of $139.25 billion, a P/E ratio of 20.93, a PEG ratio of 1.87 and a beta of 0.67. Amgen Inc. has a 52-week low of $214.39 and a 52-week high of $296.67. The company has a quick ratio of 1.35, a current ratio of 1.68 and a debt-to-equity ratio of 10.17.

Amgen (NASDAQ:AMGN – Get Rating) last released its earnings results on Thursday, November 3rd. The medical research company reported $4.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.27. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.56 billion. Amgen had a return on equity of 287.23% and a net margin of 25.96%. Amgen’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.67 earnings per share. As a group, sell-side analysts predict that Amgen Inc. will post 17.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 8th. Investors of record on Wednesday, February 15th will be issued a dividend of $2.13 per share. This is a positive change from Amgen’s previous quarterly dividend of $1.94. This represents a $8.52 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, February 14th. Amgen’s payout ratio is presently 62.23%.

About Amgen

(Get Rating)

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.